All Forum Posts by: Brad Pietrzak

would it even work? How would you rent it

how does zoning work? is it hard to change? Is it just single family multi family and commercial? If that's the case could I buy a duplex and legally just Willy nilly add 2 units because it is zoned multi family and it would still be in the realm of residential? How does this work?

me and my sweetheart have enough for the down payment on a duplex. we want to save to install a granny in law suite in the attic. just a studio unless the numbers make sense for more of course. from what I researched it can run me 32k to 65k on the cheaper side if I can use unused space. our goal with it is to build the studio then live in the studio while househacking and renting the large units then when we save up for the next duplex do the same And just rent out the studio for 5 600 after wards turning the propertys into suido triplexes. any problems I may run Into trying to do this? How much do you estimate it would cost to build these to rental specifications?

actually doing the research on the low end it would cost 35k I could just convert the attic on a duplex. Then when I move out I'll have 3 units to rent. that's actually not a bad idea wow

do you think it mite be easier building a small granny in law suite with a desperate entrance? And just living in there like that attic? a studio of course

So I see all these videos about tiny homes and it got me thinking after I saw one that was a converted bus. Is there a way you could buy a duplex rent both sides out then live in somthing like that or a rv or somthing. I mean you can buy a cheap one for like 10k it doesn't need to be able to drive just heat cool and provide electricity and toiletrys And I'm sure you can build everything you need in the property for not to much

with all that being said I still could get a better return 12 percent like you said by leveraging and not living in a paid off duplex. by paying the property off I've managed to still receive a 8.3 percent return while living there which is ok. I feel that the stress reduction and personal insurance against my own tragity makes the extra first 4 percent worth it in the short term however

I'm just concerned with conserving my momentum that is all. I have no problem with debt on non primary housholds and will eventually move my primary residence to a multi family but I will not leverage it. what if I lose my job? get sick or any other terrible thing happens. my lower back is bad from the military what if it goes out and I am paralyzed from the waste down? From what I recall everyone thinks it can't happen till it happens to them. I have many a family as proof to that and I personally refuse to be that victim. having a paid off primary residence weather single family or multi only insulates me from most of the worst of society and allows me to be very stress free and happy and conserve my momentum towards my goals with less obsticals. by having a paid off residence that's is a multi family I could still make progress even if I was only getting paid disability from the government. and make massive progress if I indeed to find a entry level job into my carrer field as a engineer. I acknowledge what you say and mathematically it makes sense in a decent way but by having a paid off duplex I live in my return isn't only the duplex. it's the margages I don't have to pay the income I get to keep and my tenant paying for my utility's and gas allowing me to save 90 percent of my income putting me in a ever more advantageous position. any propertys past this however it makes more sense to leverage. just to me at least I need my primary paid off I have seen to many people struggle to pay there bills

I personally think property prices will decrease with the rates because it in combined with a largely stagnant wage. consumer buying power has not increased. up till now we have been recovering from the 2008 mess and now that it pretty much is recovered wages are still the same and rates are increasing I could see flat pricing or slightly decreased property costs. playing the devils advocate however. there is a property shortage everywhere so the wage stagnation could just price lower income people out of the market allowing higher income people the chance to buy what they want. at the same coin flip there would be less demand this way. and considering only like 30 percent of Americans even bring home 50k a year as a individual there are far less high income individuals then regular folk with normal paying jobs. I'll just sit back and wait I'll be paying cash for my first primary residence within 8 to 12 months so I really don't care about rates. I like the cash buy because long term property values tend to rise and I am not owned by a bank less can go wrong.

I would like to eventually be able to retire off of rentals we have a ton on money coming in that is all savable as of now due to some lucky cercumstances so I just want the first property we live in to be paid off that way worst case senerio me and my sweetheart can still keep this pace of saving up. really just trying to build a really solid rock if seen some really nice duplexes past 78th in west allis for like 150k. If we end up buying somthing at that price for times sake we probably will just put a massive down payment on it like 100k or somthing. The other think we are thinking of doing is buying a condo cash in German town or tosa then when we save up enough from living frugally sell it use the combined cash to buy a duplex in shore wood or tosa. I really just want our primary residence to be in a great area all of my other rentals can be in working class areas and what not and be more leveraged (not that those are bad areas mind you.) I am just a firm believer in you own were you live with no debt.